Urgent question on deceased assessee's return !

Tax planning 1163 views 27 replies

Thanks to Mr. Sampath for posting this issue..... & thanks to all for all ur valuable replies...yes

Replies (27)

Thanks to Mr. Sampath for posting this issue..... & thanks to all for all ur valuable replies...yes

THANK U  EVERY MEMBER WHO CONTRIBUTED TO THIS POST.....yes

Thank u deepak sirjiiii for very useful link on this issue.........yes

In case if return is filed manually then whether any document has to be attached to return of income or not?

or

whether any document like death certificate etc.of deceassed assessee is to be submited  later at any  time to jurisdictional A.O?

As per the Scheme of ITR  documents are not required to be attached. 

 

Death certificate etc.of deceassed assessee is to be submited  later at any time to jurisdictional A.O if required.
 

there is no need to attach death certificate, as no where it is written

Fuirther AO if he think it is necessary, can demand

THANK U  PARAS SIR FOR UR DISPLAY OF INDEPTH  KNOWLEDGE AND SOLVING MY DOUBTS AS WHEN I ASKED U.

Thanks Deepak forur response.yes

Thank You for posting.....

I was in search of answers for such querry....

 

Humour....

After the natural calamity at Kedarnath, people will realise the importance of this discussion.

 

interest income after  25/10/2012 to 31/03/2013 taxable in the hand of CA wife 

Originally posted by : CA PARAS BAFNA

Yes. As on 25.10.2012 FDRs and other assets and liabilities of the deceased  can be shown 

in the accounts  of the wife .

.

First decide the income of the deceased. Transfer the same into his capital account.

Then, Transfer the entire balance sheet  so formed, into the Books of A/c of the wife.

.

 

 

 

Sir aftr transferring all income till 25/10/2012 in CA'S capital A/c , all assets and liabilities must be tranferred to  first wife's a/c in CA's  books of a/c?

Then in wife's books of a/c CA's a/c will be having same balance -net of assets and liabilities?

Then from dis a/c of CA it will added to respective assets and liabiities of wife? what narration to be given at respective places?

 

Being Asset /Liability inherited from Husband.

.

In a case where entries were not directly routed through the Capital Accounts -

IN THE BOOKS OF HUSBAND:

Transfer the Balance of Wife's A/c to H's Capital A/c so that it gets nullified. 

IN THE BOOKS OF WIFE:

Transfer the Balance of HUSBAND's A/c to  W's Capital A/c so that  HUSBAND's A/c gets nullified. 

.
 

Thank you sir for your prompt reply.....


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